In a recent article I read some pretty interesting information……So today let’s step away from real estate comps convo and discuss the overall real estate market outlook.
In MacroMarkets LLC’s recent Home Price Expectations Survey, the real estate market outlook for the next 5 years is pretty bleak. The survey found that economists, real estate experts and investment and market strategists all expect prices to decrease 2.53 percent this year and 0.13 percent in 2012. Starting in 2013 they expect prices to start heading upward again with an overall net gain of 1.1 percent. Experts feel that some type of government action is likely but may be ineffective since the it is felt that a viable solution should come from the market. This vein of thinking is contingent upon the housing regulation that is set to be made in the coming months.
I would love to hear your thoughts on this one guys! Is now too soon to predict what the real estate market will do in five years? Yes or No? Why or why not?